Grayscale Bitcoin Trust
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Bitcoin ETF prospects got a boost in court on Tuesday, leading Grayscale Investments’ flagship trust to jump 17% as traders weigh outcome
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Crypto firm’s GBTC was trading at a 26% discount on Friday — a narrowing value that could change drastically after upcoming DC Circuit Court of Appeals decision
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A recent CoinDesk article reported that Justin Sun held the majority of the assets within the Valkyrie Investments vehicle
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If the SEC approves GBTC’s conversion to an ETF, Regulation M relief would be granted, but the firm could try for approval sooner
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BlockFi once owned more than 5% of all Grayscale Bitcoin Trust stock, but now the cryptocurrency lender doesn’t directly maintain any at all
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The regulator is set to rule on the digital currency asset manager’s proposal to convert its bitcoin trust to an ETF by July 6
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Firm adds muscle to its legal counsel before SEC rules on its bitcoin ETF application
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The proposed product seeks to blend exposure to the S&P 500 Index and bitcoin futures contracts
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Regulatory filings indicate the asset manager owned $458M worth of the Grayscale Bitcoin Trust across 17 portfolios
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“What we’re doing here is really defining what the digital economy is as opposed to replicating bitcoin in the form of an equity ETF,” Grayscale’s head of ETFs said
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Platform offers exposure to the asset class through Grayscale Investments’ bitcoin and ether trusts
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Breaking down the metaverse products and other strategies that are on deck amid the wait for a spot bitcoin fund
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SEC’s decision to approve a futures-based fund and not a spot ETF is “arbitrary and capricious,” and in violation of the Administrative Procedure Act (APA), attorneys from Davis Polk argue in a letter to the SEC.
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Morningstar analyst proposes redemption program for Grayscale Bitcoin Trust as it has traded at discount for much of 2021.
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Along with the milestone for Grayscale funds AUM, the firm passes SPDR Gold Shares (GLD), the world’s largest gold ETF.
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The news comes at a time when the SEC has cleared the first-ever US-based Bitcoin Futures ETF, paving the way for mainstream adoption of cryptocurrencies.
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Michael Sonnenshein reiterates its bitcoin trust should be allowed to convert at same time SEC approves futures-based ETFs.
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